20 Athletes Who Have Gone Broke and Filed for Bankruptcy

Picking Out Prominent Athletes Who Went Bankrupt

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Professional athletes are known for their lavish lifestyles, which are aided by the fact that most of the men and women who are shown on television make millions of dollars every year. Making large sums of money doesn't mean that spending recklessly is a smart thing, as shown by these 20 current and former athletes who ended up going bankrupt.

20. Vince Young

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20. Vince Young

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Young made $26 million in just seven seasons in the NFL, but the free agent quarterback filed for bankruptcy in January of 2014, heightening the need to latch on with a team this fall.

19. Mike Tyson

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19. Mike Tyson

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Tyson is known by many for his outlandish ways during his professional boxing career, which included blowing through more than $300 million in earnings, and filing bankruptcy while $27 million in debt in 2003.

18. Michael Vick

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18. Michael Vick

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Vick was put $20 million into debt and forced into bankruptcy in July 2008 as a result of extensive lawyer fees and lost salary in accordance with his dog fighting charges and subsequent imprisonment.

17. Kenny Anderson

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17. Kenny Anderson

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Anderson made more than $60 million during his playing days, but was forced into bankruptcy in 2005 because of a plethora of bad business investments.

16. Bill Buckner

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16. Bill Buckner

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Buckner is best known for helping the Boston Red Sox lose the 1986 World Series, but the former first baseman saw an economic low in 2008 when he declared bankruptcy after his car dealership failed.

15. Allen Iverson

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15. Allen Iverson

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Iverson made over $200 million during his NBA career, but poor spending habits, bad investments and bad lifestyle choices helped him blow this total and declare bankruptcy.

14. Curt Schilling

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14. Curt Schilling

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Schilling took a $75 million loan from the state of Rhode Island to start up a video game company that never really took off, and he ended up having to declare bankruptcy as a result.

13. Lawrence Taylor

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13. Lawrence Taylor

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Taylor was once worth more than $10 million, but bad spending habits, a drug addiction and general poor lifestyle choices forced the Football Hall of Fame member into bankruptcy in 2009.

12. Diego Maradona

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12. Diego Maradona

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Maradona is considered by many to be the best soccer player ever, but the Italian Tax Authority did not care about this when they came calling for $54 million in unpaid taxes, and eventually forced the 53-year-old into bankruptcy.

11. Sheryl Swoopes

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11. Sheryl Swoopes

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Swoopes made over $50 million during her playing days, but the WNBA legend was forced into bankruptcy in 2004.

10. Mark Brunell

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10. Mark Brunell

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Brunell had $25 million in liabilities when filing for bankruptcy in 2010, which is absolutely staggering when one considers he had only $5.5 million in assets at the time.

9. Scottie Pippen

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9. Scottie Pippen

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Pippen may have six career NBA titles to his name, but that did not stop the former Chicago Bulls star from blowing $120 million in career earnings and being forced into bankruptcy.

8. Darren McCarty

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8. Darren McCarty

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McCarty entered bankruptcy in 2006, which was spurred on by a combination of bad investments, poor spending habits and $6.2 million in liabilities.

7. Evander Holyfield

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7. Evander Holyfield

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Holyfield is known by many as the man who had part of his ear bitten off by Mike Tyson, and the former star boxer blew through $250 million in career earnings before declaring bankruptcy.

6. George Best

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6. George Best

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The late Best was one of the best players in Manchester United history, but alcoholism and excessive spending forced the winger into bankruptcy in retirement.

5. Brad Friedel

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5. Brad Friedel

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Friedel was forced into bankruptcy in 2011 as a result of investing in a soccer academy that went underwater, but the Tottenham Hotspur backup goalkeeper has gotten back onto his feet in recent years.

4. Lenny Dykstra

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4. Lenny Dykstra

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Dykstra was worth more than $58 million in 2008, but he entered bankruptcy in 2009, and he was sent to prison in 2012 for bankruptcy fraud.

3. Johnny Unitas

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3. Johnny Unitas

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Unitas was forced into bankruptcy in 1991 as a result of $4 million in unpaid loans, dampening the mood of a man who some consider to be the best quarterback in football history.

2. Marion Jones

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2. Marion Jones

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Jones saw her reputation dragged through the mud as a result of a performance enhancing drugs scandal, and the drop in income that resulted from this scandal ended up with the former track star claiming bankruptcy in 2013.

1. Tony Gwynn

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1. Tony Gwynn

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The late Gwynn is known as one of the best baseball players and generally one of the best human beings in baseball history, but he did some financial difficulties early in his career, which were highlighted by declaring bankruptcy in 1987.